Ann: Annual Report to Shareholders, page-13

Its an absolute joke alright however its been this way for many years. 

Just catching up on some reading today & I am in a state of shock when I read the annual financial report. 

Here are some "highlights"! 

1. Page 18 ~ Total renumeration. 

     2017 ~ $ 577,912

     2018 ~ $ 904,199

2. S Michael ~ 2017 ~ $336,936 to 2018 $456,972. Is he serious? Wtf. 

3. D Tuck ~ exploration manager. Renumeration from 104k to 214k. Seriously? Grades at Stricklands 1.5g/t Au, 0.7, 0.6 and so on. See p5. The T8 Prospect is worse yet they state "The drill programme has also significantly enhanced the understanding of the geological setting...." Ffs. 

4. P14 states that we received $125,000 for some of Plumbrudge Gold Prospects dataset to an unrelated party. However they don't say who. Go figure! 

5. Net loss for 30/06/18 was $ 1.171 million up for $ 0.887 million

6. S Michael's 5million shares are worth a tad over 70k @ 1.4c a share. The SP is clearly not his focus. Options ~ as stated on p25 ~ all significantly out of the money. The 30 Jun 2019 ones have an exercise price of $ 17.5c. Hahaha. Tell em they're dreaming. 

7. Lastly (as the more I read the worse it gets) ~ p46 note 9 Property Plant & Equipment. This one is fascinating. We have motor vehicles, a caravan or two, Office improvements But no field quipment. Not a dollar. $ 301k of Property, plant & equient ~ and zero field equipment. We are an explorer ~ with zero field equipment. Says it all. 

Gracie